EUR/USD, “Euro vs US Dollar”
EURUSD is no longer trading inside the bearish channel. The instrument is currently moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 0.9745 and then resume moving upwards to reach 1.0115. Another signal in favour of a further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.9575. In this case, the pair may continue falling towards 0.9485. To confirm a further uptrend, the price must break the bearish channel’s upside border and fix above 0.9925.
XAU/USD, “Gold vs US Dollar”
XAUUSD has fixed above the resistance level. The instrument is currently moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 1655.00 and then resume moving upwards to reach 1720.00. Another signal in favour of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1630.00. In this case, the pair may continue falling towards 1605.00. To confirm a further downtrend, the price must break the bearish channel’s upside border and fix above 1685.00.
AUD/USD, “Australian Dollar vs US Dollar”
AUDUSD is about to test the upside border of a reversal pattern. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6545 and then resume moving downwards to reach 0.6285. Another signal in favour of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.6655. In this case, the pair may continue growing towards 0.6745. To confirm a further downtrend, the price must break the downside border of the Wedge pattern and fix below 0.6415.
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